In the lead up to the Hospices de Nuits-Saint-Georges auction we want to know: What market trends are for Burgundy wines at the moment? What results can we expect? What challenges does iDealwine expect to face at the 64th auction? We interviewed auctioneer – and iDealwine CEO – Cyrille Jomand to find out.
What are the current general market trends for wine? More specifically, for Burgundy wines?
Cyrille Jomand explained, “After a period of strong growth before and during the COVID pandemic, in terms of both volume and value, the wine market has been going through a more difficult period over the past two years, with a definite decline in volume that is exaggerated further when looking at the value. The iDealwine 100 index fell by 7.5% in 2024.
Burgundy remains “relatively” unaffected – or you could say less affected – by this movement, despite the price of Burgundy’s finest wines also dropping by around 10% in the last year. According to the FEVS (Federation of French Wines and Spirits Exporters), Burgundy wine exports rose by 8.4% in 2024 compared to an increase of 0.7% for the market as a whole. The market is sending a clear signal that prices are moderating.”
What can we expect from the Hospices de Nuits auction?
Cyrille Jomand said, “Against this backdrop, we might expect some price stagnation for this edition of the Hospices de Nuits-Saint-Georges auction. However, we should also take into consideration some other factors:
- In 2023, there was a major price readjustment in the market. We tracked a 30% average reduction in the price of a pièce (from € 22,518 to € 15,843, with relative stability in 2022 and 2023).
- Poor yields in 2024, representing a mere quarter of the usual harvest! Only 36.5 pièces will be sold this year compared to an average of 130 pièces over the last 10 vintages, which makes these wines very rare. This rarity paired with genuine quality will ensure that every item is resoundingly respected.
- In addition to this, there is a growing reputation and an increased desire for these wines, encouraged by tastings of Hospices cuvées in several countries around the world, press coverage and also the expansion of this 2025 auction to new enthusiasts of Burgundy wines.
In summary, we should see a (reasonable) rise in prices this year!”
What challenges does iDealwine face at this auction?
Cyrille Jomand shared, “Ironically, iDealwine faces a challenge unlike any other auction house. The challenge on 9 March will be moving from our usual digital auctions to the sales floor. This will be an organisational test which we feel is essential as many major wine events, especially charitable events, often solely take place in an auction room – for example, gala dinners. Our challenge is to master this way of hosting auctions.
The second challenge is to extend our presence in Burgundy, a region with a long-standing history for iDealwine, much like Bordeaux and the Rhône Valley. We are invested in this and have established our office in Beaune as a point of contact for our partner producers in the region and those nearby. This auction is our opportunity to solidify our presence there.”
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Get involved in the Hospices de Nuits-Saint-Georges wine auction
What should I bid on?
- Pièces (228-litre barrels) or feuillettes (114-litre barrels) of wine, either by yourself or with a group of people
- Lots of bottles or magnums from older vintages
- A two-bottle case of mature vintages from 1955 and 1959 generously donated by Edouard Delaunay in aid of Coucou Nous Voilou
You can also buy
- Bottles from charity pièce by signing up for bottles, at €150 each
Or donate
- To the Coucou Nous Voilou charity using this link
To find out more information, please read our blog article about the Hospices de Nuits-Saint-Georges auction.
